Post Tagged with: "national oilwell varco"

Source: Houston Chronicle

NOV finishes year of losses $6.1 billion in the red

Houston Chronicle


Houston oilfield service company National Oilwell Varco finished up a year of losses $6.1 billion in the red.

In a statement released on Thursday evening, the company reported closing 2019 with a $6.1 billion loss, a dramatic drop …

Source: Houston Chronicle

NOV plans to issue $500 million of senior notes amid financial reshuffling

Source: Houston Chronicle


Struggling oilfield service company National Oilwell Varco plans to issue $500 million of senior notes amid some financial reshuffling to pay down near-term debt and deal with recent quarterly losses.

In a Monday afternoon filing with the …

Photo: Craig Hartley, Bloomberg News

Losses continue to mount for National Oilwell Varco in third quarter

Houston Chronicle


Losses continue to mount for Houston oil field service company National Oilwell Varco, which posted a nearly quarter billion dollar loss during the third quarter.

In a statement released after close of market on Monday, NOV reported a …

October 29, 2019 - 9:05 am Closing Bell Story‎, Earnings, Oilfield Services
Source: Lonestar Resources

Energy Bankruptcies Back on the Rise in 2019

From The Houston Chronicle


After a recovery from the last oil bust, energy bankruptcies are back on the rise in 2019.

The number of oil and gas bankruptcy filings through mid-August has nearly equaled the total tally from 2018, and …

Oil & Gas 360 - KLX Energy Services Completes Motley Acquisition frac truck

National Oilwell Varco Posts Nearly $5.4 Billion Loss During Second Quarter

From The Houston Chronicle


Houston oilfield service company National Oilwell Varco reported a multibillion loss during the second quarter amid what executives are calling a “generational oilfield downturn.”

NOV reported a nearly $5.39 billion loss on $2.13 billion of revenue …

Oil & Gas 360 - KLX Energy Services Completes Motley Acquisition frac truck

Job Cuts Expected at NOV Amid Ongoing Oil & Gas Industry Slump

From The Houston Chronicle


Job cuts are expected at Houston oilfield service company National Oilwell Varco following the implementation of a company restructuring plan created in response to an ongoing industry slump in the U.S. shale basins.

The drilling and …

Saudi Aramco Signs JV with NOV Pushing Creation of Energy Services Sector

Saudi Aramco Signs JV with NOV Pushing Creation of Energy Services Sector

Saudi Aramco and National Oilwell Varco, Inc. (NYSE: NOV) have signed a shareholder agreement to form a joint venture partnership. The JV is to establish an integrated world-class on-shore rig and equipment manufacturing and aftermarket facility in Ras Al-Khair, Saudi …

Heard on the Call: Oil & Gas CEOs Speak Up

Heard on the Call: Oil & Gas CEOs Speak Up

As oil and gas companies dive into the Q4 earnings season in the coming days and weeks, more and more chief executives at E&Ps and oilfield service companies will share their insight as to their recent operations, thoughts about where …